Hi Fyers Team,
I am experiencing a recurring issue with Bracket Orders (BO), specifically when using the Quick Trade feature. The problem is that Fyers slices orders into multiple smaller orders and charges brokerage fees for each slice.
For example:
If I place an order for 4 lots, it gets executed as 3-4 separate orders, and I am charged brokerage for each execution. This results in excessive chargesāfor instance, ā¹60 or ā¹80 just for one trade.
This issue seems to be unique to BO orders, as regular orders do not have this problem and are charged correctly. It is frustrating because it significantly increases trading costs, especially for scalpers or traders in volatile markets where BO orders are critical for risk management.
Iāve seen the explanation provided by the CEO in similar cases:
"Orders are matched by the exchange as per their order book. We merely transmit orders to the exchange. Brokers don't have any control over this."
However, if the issue lies with how orders are matched at the exchange, then why does this not occur with regular orders? BO orders are a feature that operates within the Fyers backend, and it is designed to handle multiple legs of a trade (target, stop loss, and closing orders) with automation, correct me if i am wrong. If backend logic ensures that all remaining legs of the trade are canceled when one leg is hit, why is there this strange slicing behavior in BO orders specifically?
Is anyone else facing this issue? Please share your experience.
Can you address this issue and provide a resolution? This problem is causing unnecessary expenses and needs urgent attention.
Thank you